Overview
Convertible bonds — debt that morphs into stock when issuers rally — around 362 issues heavy in tech and growth companies.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| MSTR | Strategy converts | 3.4% |
| PCG | PG&E converts | 2.1% |
| CCL | Carnival converts | 1.8% |
| COIN | Coinbase converts | 1.6% |
| PLTR | Palantir converts | 1.5% |
| RIVN | Rivian converts | 1.4% |
| SMCI | Super Micro converts | 1.3% |
| ENPH | Enphase converts | 1.2% |
| UBER | Uber converts | 1.1% |
| DKNG | DraftKings converts | 1.0% |
Fund Details
Investment Thesis
Convertibles are the market's shape-shifters: bond floors when stocks fall, equity participation when they run — and their issuer base (growth tech that borrowed cheap in 2021) makes CWB a stealth growth fund with a safety net. The +16% year tracked the tech rally at lower octane, exactly the asymmetry the asset class sells.
Who It's For
Investors who want growth-equity participation with a bond cushion, and income diversifiers bored of plain credit. The classic 'chicken equity' allocation.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $35.00 | -- |
| 2017 | $40.25 | +15.0% |
| 2018 | $39.44 | -2.0% |
| 2019 | $48.12 | +22.0% |
| 2020 | $72.18 | +50.0% |
| 2021 | $73.63 | +2.0% |
| 2022 | $58.90 | -20.0% |
| 2023 | $66.56 | +13.0% |
| 2024 | $73.21 | +10.0% |
| 2025 | $82.00 | +12.0% |
| Year | Yield |
|---|---|
| 2016 | 2.50% |
| 2017 | 2.20% |
| 2018 | 2.40% |
| 2019 | 2.10% |
| 2020 | 1.40% |
| 2021 | 1.20% |
| 2022 | 1.80% |
| 2023 | 2.00% |
| 2024 | 1.70% |
| 2025 | 1.60% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $2.5B | -- |
| 2017 | $3B | +20.0% |
| 2018 | $3.5B | +16.7% |
| 2019 | $4B | +14.3% |
| 2020 | $6.5B | +62.5% |
| 2021 | $7B | +7.7% |
| 2022 | $4B | -42.9% |
| 2023 | $4B | +0.0% |
| 2024 | $4.5B | +12.5% |
| 2025 | $5B | +11.1% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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